Today is August 7th, and autumn has arrived. Although the coolness of autumn gradually replaces the heat of summer, it does not mean that high temperatures will immediately disappear—just like the 'autumn tiger', the summer heat wave may continue for a while.
This phenomenon is very similar to the trend of the crypto circle. When the market shows signs of peaking or bottoming, prices often continue to rise or fall due to inertia.
In the past 24 hours, a total of 86,805 people across the network have encountered liquidation, with a total liquidation amount of 181 million USD, among which long positions accounted for 74.8349 million USD and short positions accounted for 106 million USD.
BTC
Bitcoin has gained effective support around 112,000 twice during this small pullback. Although it has not broken through 115.8k, the premium has suddenly surged, and US buying is flowing back, implying that the market may be attracting shorts. After all, 115.8k is a horizontal resistance level with little room for stop-loss, but personally, I do not intend to short.
If the price briefly breaks through 115.8k and then falls back, and the premium drops significantly, then shorting will have a better cost-performance ratio. However, if after breaking through 115.8k, the premium remains high without showing any reversal, then one can consider chasing long.
Today's focus: support level 112,000 / 109,500; resistance level 116,411; the price is gradually approaching 116,411, if the trend remains unchanged, 116,411 is almost certain to be reached!
ETH
Ethereum has returned to 3700 USD, the current downward channel is gradually becoming apparent. If it continues to rise and tests the upper edge of the channel, the target may point to 3754 USD, just breaking through the left side's high point. Only when strong coins lead can shanzhai coins possibly follow the market up. The strategy of 'buying more as it drops' is still effective, and with the expectation of interest rate cuts in September gradually heating up, this week may be the best buying opportunity.
Today's focus: support level 3,486 / 3,339; resistance level 3,892; the current key points are at 3,605/3,725, waiting for the main force's direction to choose!
Operation: Spot remains consistent with yesterday. If the monthly level pullback continues to shuffle this month, pay attention to whether there are any deep squat opportunities between the 13th and 18th. At this moment, for some quality shanzhai coins that have fallen to this year's previous low neckline, it may be worth considering making an initial base position!
Shanzhai
Except for a few new coins and some small market cap, highly controlled coins (such as THE, GNS, TUT, etc.), most shanzhai coins are in a state of oscillation, lacking appeal. Even leading coins are experiencing significant pullbacks.
This market always contradicts human nature. When everyone thinks the shanzhai season has arrived, it is usually accompanied by a big bearish candle, leaving bulls deep in losses. By the time you are desperate and start complaining, the market quietly injects liquidity and rises silently when you have no positions.
From ACT to Mask, and then to TST, the harvesting tactics of these evil庄 are remarkably similar:
First, create a false impression of bottom absorption through long-term sideways movement, inducing investors to believe that the absorption has ended and is about to start. Then suddenly surge, attracting retail investors to swarm in, and subsequently, the庄 quickly dumps 50%, completing a violent harvest.
Garbage shanzhai, you just buy it, buy one without a sound~ Dog庄 is terrible! Except for the quality shanzhai of the leading coins, other garbage coins are not worth looking at~
Extremely bad! Bonk and Pump teamed up to sing a duet.
It's also about harvesting韭菜, the rhythm is seamless, as if pre-arranged, taking turns for a few days, when one side acts, the other side never interferes.
The market is always fluctuating, but trends do not lie. If you are still chasing highs and cutting losses every day, why not stop and think—are you playing in the crypto circle, or is the crypto circle playing you?
